Comerica Bank and Development Corporation host official check-signing event
Representatives of both Comerica Bank and Small Business Development Corporation of Orange County hosted an official check-signing event on Aug. 4th, marking the development corporation’s receipt of the funds from Comerica. Dubbed an EQ2 investment, the $1 million outlay is an Equity Equivalent investment that will function as a deeply subordinated loan with certain features that allow it to work like equity. These bank investments serve as tools to help community development financial institutions (CDFIs), like SBDC-OC, increase lending in economically disadvantaged areas.